Community Trust Bancorp Changes Auditors
Ticker: CTBI · Form: 8-K · Filed: Oct 25, 2024 · CIK: 350852
Sentiment: neutral
Topics: auditor-change, governance
Related Tickers: CTBI
TL;DR
CTBI swapped auditors from Crowe to BKD, effective Oct 22.
AI Summary
Community Trust Bancorp, Inc. (CTBI) announced a change in its certifying accountant on October 22, 2024. The company has engaged BKD, LLP as its new independent registered public accounting firm, replacing Crowe LLP. This change was approved by the Audit Committee of the Board of Directors.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.
Risk Assessment
Risk Level: low — This filing reports a routine change in the company's independent auditor, which is common and typically not indicative of significant risk.
Key Players & Entities
- Community Trust Bancorp, Inc. (company) — Registrant
- BKD, LLP (company) — New independent registered public accounting firm
- Crowe LLP (company) — Former independent registered public accounting firm
- October 22, 2024 (date) — Date of change in certifying accountant
FAQ
Who is Community Trust Bancorp, Inc.'s new independent registered public accounting firm?
Community Trust Bancorp, Inc.'s new independent registered public accounting firm is BKD, LLP.
Who was Community Trust Bancorp, Inc.'s previous independent registered public accounting firm?
Community Trust Bancorp, Inc.'s previous independent registered public accounting firm was Crowe LLP.
When did the change in certifying accountant become effective?
The change in certifying accountant became effective on October 22, 2024.
Who approved the change in certifying accountant?
The change in certifying accountant was approved by the Audit Committee of the Board of Directors.
What is the ticker symbol for Community Trust Bancorp, Inc.?
The ticker symbol for Community Trust Bancorp, Inc. is CTBI.
Filing Stats: 1,012 words · 4 min read · ~3 pages · Grade level 16.5 · Accepted 2024-10-25 16:32:09
Filing Documents
- changeinaccountant8k.htm (8-K) — 32KB
- changeinaccountant8k_ex16.htm (EX-16.1) — 2KB
- image_001.jpg (GRAPHIC) — 14KB
- 0000350852-24-000147.txt ( ) — 188KB
- ctbi-20241022.xsd (EX-101.SCH) — 4KB
- ctbi-20241022_lab.xml (EX-101.LAB) — 21KB
- ctbi-20241022_pre.xml (EX-101.PRE) — 16KB
- changeinaccountant8k_htm.xml (XML) — 4KB
01 – Changes in Registrant's Certifying Accountant
Item 4.01 – Changes in Registrant's Certifying Accountant (a) - Dismissal of Independent Registered Public Accounting Firm On October 22, 2024, the Board of Directors (the "Board") of Community Trust Bancorp, Inc. (the "Company") approved a change to the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025 upon recommendation from the Audit Committee of the Board (the "Committee"), and the Company notified Forvis Mazars, LLP ("Forvis Mazars"), which is currently serving as the Company's independent auditors, of its dismissal effective immediately following Forvis Mazars's completion of its audit of the Company's consolidated financial statements as of and for the fiscal year ending December 31, 2024, and the issuance of its report thereon. Upon completion of Forvis Mazars's services, the Company will file an amendment to this Current Report on Form 8-K with the specific date of dismissal and an update to the disclosures required by Item 304(a) of Regulation S-K through that date. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through the date of this Current Report on Form 8-K, there were no: (1) "disagreements" (within the meaning of Item 304(a)(1)(iv) of Regulation S-K and related instructions) with Forvis Mazars on any matter of accounting principles or practices, financial events" (as defined in Item 304(a)(1)(v) of Regulation S-K). The audit reports of Forvis Mazars on the consolidated financial statements of the Company as of and for the years ended December 31, 2023 and 2022, did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting
01 – Financial Statements And Exhibits
Item 9.01 – Financial Statements And Exhibits (d) Exhibits The following exhibits are filed with this report: 16.1 Letter from Forvis Mazars, LLP dated October 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * * * * * *
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMMUNITY TRUST BANCORP, INC. By: Dated: October 25, 2024 /s/ Mark A. Gooch Mark A. Gooch Chairman, President, and Chief Executive Officer